Sequoia, Tiger Global, Zomato, Swiggy onboard UrbanPiper with USD 24 million funding
Restaurant management platform UrbanPiper on Monday announced that it has raised $24 million from investors including food delivery platforms Swiggy and Zomato.
Published: 18th April 2022 01:51 PM | Last Updated: 19th April 2022 07:39 AM | A+A A-
BENGALURU: Restaurant management platform UrbanPiper on Monday announced that it has raised $24 million from investors including food delivery platforms Swiggy and Zomato. Besides existing investors Sequoia India and Tiger Global, the start-up’s Series B funding also saw participation from Zomato and Shyft co-founder Pankaj Chaddah, Curefoods founder Ankit Nagori and angel investors Khadim Bhatti and Vara Kumar, among others.
Zomato and Swiggy have come together to invest in the company. In January this year, Zomato said it will buy a 5% stake for Rs 37.38 crore in B2B software platform UrbanPiper Technology. Recently, Swiggy invested in bike taxi platform Rapido. UrbanPiper currently processes 18% of all online food orders placed every month in India. It has also grown over 10 times in the last two years.
A restaurant signs up with at least 6-10 different online channels/aggregators. Through UrbanPiper, restaurants can integrate all these aggregators onto a single dashboard and connect it with their points of sale, the start-up said. The company plans to use the fund to scale its product and engineering teams and also strengthen its platform capabilities.
It also plans to broaden its offerings to enable more services to restaurants. “UrbanPiper is one of our key partners enabling us to seamlessly engage with restaurants and scale faster through their point-of-sale solutions,” said Sriharsha Majety, CEO, Swiggy.
Founded in 2015 by Saurabh Gupta, Anirban Majumdar, and Manav Gupta, the company has over 150 employees, and it plans to increase the headcount to over 250 in the next one year.